LifeBond, a Caesarea, Israel-biosurgery device company that is developing a line of biosurgical products for prevention of surgical leakage and bleeding, has closed a $20m Series C financing round.
The round wad led by Giza Venture Capital and Aurum Ventures, with participation from existing investors Pitango Venture Capital, Mr. Robert Taub, GlenRock Israel, and The ZitelmanGroup.
The company intends to use the funds to complete the pre-clinical and clinical phases of its lead product, LifeSealGI(TM), a sealant indicated for reinforcement of gastro-intestinal anastomoses. According to a written statement, the product will reach the market within the end of 2012, pending regulatory approval.
In addition, LifeBond will continue to develop its severe bleeding control product, LifePatch(TM), and ahernia mesh fixation.
In conjunction with the funding, Dr. Yuval Avni, a partner at Giza, and Dr. Dan J. Gelvanhave, joined the company’s Board of Directors.
LifeBond was founded in 2007 by CEO Ishay Attar amd Mr. Nir Mashkif.